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MindGenius 15h
The Project Management Institute has developed a strong methodology & framework which can be used and adapted to suit projects of all sizes. Our guide has used & adapted this framework:
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Hello! Jun 25
People can be counted, but they are not numbers. -
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Joelle A Godfrey Jun 21
The decision making techniques that can be used in the Estimate Costs process include but are not limited to voting. Voting is an assessment process having multiple alternatives with an expected outcome in the form of future actions.
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Joelle A Godfrey Jun 25
The cost baseline is the approved version of the time-phased project budget, excluding any management reserves, which can only be changed through formal change control procedures
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Joelle A Godfrey Jun 25
Financing entails acquiring funding for projects. It is common for long-term infrastructure, industrial and public services projects to seek external sources of funds
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Joelle A Godfrey Jun 25
The expenditure of funds should be reconciled with any funding limits on the commitment of funds for the project.
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Joelle A Godfrey Jun 25
The cost baseline is developed as a summation of the approved budgets for the different schedule activities
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Joelle A Godfrey Jun 21
The amount and type of additional details supporting the cost estimates vary by application area. Regardless of the level of detail, the supporting documentation should provide a clear and complete understanding of how the cost estimate was derived
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Joelle A Godfrey Jun 21
Cost estimates include quantitative assessments of the probable costs required to complete project work, as well as contingency amounts to account for identified risk and mgmt reserve to cover unplanned work.
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Joelle A Godfrey Jun 21
Supporting detail for cost estimates may include: Documentation of all assumptions made, Documentation of any known contraints, Documentation of identified risks included when estimating costs.
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Joelle A Godfrey Jun 19
Cost of quality - Assumptions about costs of quality may be used to prepare the estimates. This includes evaluating the cost impact of additional investment in conformance versus the cost of non-conformance.
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Joelle A Godfrey Jun 19
Alternatives analysis - is a technique used to evaluate identified options in order to select which options or approaches to use to execute and perform the work of the project.
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Joelle A Godfrey Jun 19
Data Analysis techniques that can be used in the Estimate Costs process include but are not limited to: Alternatives analysis, Reserve Analysis, and Cost of Quality
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Terry O'Gara Jun 23
Iterative vs Incremental? Iterative: deliver mvp; execute continuous refinement. Incremental: deliver one completed module before moving on to the next. Practical application: incremental & iterative development are often executed in tandem.
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Terry O'Gara Jun 23
Controlling scope is the process by which designated responsible individuals monitor development and manage change/s. It is not the limitation of change or the denial of change requests, which is more aptly characterized as 'squash scope'.
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Joelle A Godfrey Jun 19
Reserve Analysis - Cost estimates may include contingency reserves (sometimes called contingency allowances) to account for cost uncertainty.
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ProConAnalytics Jun 24
ProCon Analytics turn data into powerful and useable insight tools. Any questions? Please just ask.
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KAIP Academy 12h
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ProCon Partners Jun 21
ProCon Partners offer a fully scalable approach to best suit your needs. We'd love to help you achieve.
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ProCon Partners Jun 21
ProCon Partners are driving efficiency, delivering success and increasing profits. We'd love to help you achieve.
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